-- Connecting the dots between our economy, government and business --
As part of Ald. Michael Rodriguez’s proposal, the funds would be provided as forgivable loans, while applicants would have to live in Chicago, inside the home they are seeking the loan for and have incomes at or less than 300% of the federal poverty guidelines, among other requirements.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
Taking out loans to pay, not for capital expenditures, but for current expenses is an old Amtrak business plan. What happens next year when people can’t afford the insane property taxes? Another loan?
It didn’t work then,and won’t work now.
Putting people in debt (and especially if they cannot afford to service those debts) doesn’t work. I remember 2008 as if it were yesterday. Loans without rigorous credit standards and underwriting create more misery than good. The elephant in the room is the high property taxes, and they look like they will only go higher in coming years. Lending into this situation is supposed to help? I don’t see it.
Hmm, this sounds like an advanced class in can kicking!